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Gold and silver prices fell yesterday as the dollar rose and traders anticipated that the
Federal Reserve might reduce its economic stimulus sooner than expected.

Gold for December delivery fell $25.40, or 1.9 percent, to $1,323.60 an ounce. Silver fell even
more. The actively traded December contract fell $1.116, or 4.9 percent, to $21.867.

The Fed, in a policy statement released Wednesday, signaled that it thinks the U.S. economy is
improving. That led traders to think it may curtail its $85 billion in monthly bond purchases
sooner than expected.

That would have the effect of raising interest rates and increasing the value of the dollar —
two factors that weigh on gold prices.

Gold is down 21 percent so far this year and is on track for its first annual loss since 2000.
Gold rallied as high as $1,900 in August 2011.

December crude oil fell 39 cents yesterday, to $96.38 a barrel in New York.